It does indicate liquidity, like the center of our planet is liquid rock. Not sure about the algorithm though because I imagine it depends on the mass. Something that’s very dense won’t need as much mass as something that’s not dense, so they would reach equilibrium at different sizes. The material matters too.
I suppose a solid would behave somewhat like a liquid under sufficient, uniform pressure, i.e. gravity of sufficient magnitude, and reconfigure itself into a sphere.